Trump’s expansive use of clemency in his second term has centered on January 6 defendants, 2020 election allies, and politically connected individuals, with over 1,700 grants issued by mid-2026. On inauguration day in January 2025, he issued blanket pardons and commutations covering nearly 1,600 Capitol riot cases. In November 2025, he pardoned dozens tied to the fake electors effort, including Rudy Giuliani and Mark Meadows. Subsequent actions have favored donors, former officials, and those with access through White House influencers or allies rather than standard Department of Justice review, as documented in reporting on the process. With the 2026 midterms approaching and further grants continuing into 2027, trader focus remains on figures with demonstrated loyalty or high-visibility advocacy networks that could prompt additional executive actions before the market’s resolution window closes.